Punters Want Crypto: UK Gambling Body Eyes Licensed Bets

The UK Gambling Commission announced today that it is exploring crypto payments for licensed betting operators. Executive Director Tim Miller disclosed the initiative at the Betting and Gaming Council's Annual General Meeting on February 27, 2026, stating that demand for digital assets is driving some gamblers toward unlicensed platforms.

Crypto Searches Fuel Illegal Gambling Traffic

Miller told attendees that crypto is one of the two biggest search terms steering U.K. bettors to illegal gambling operators. The Commission's research shows consumers seeking to gamble with digital currencies regularly end up on unregulated offshore sites, prompting the regulator to launch a formal review.

The Commission has asked its Industry Forum to examine how crypto payments could be introduced in line with its licensing objectives, including anti-money laundering controls and consumer protection safeguards, Miller stated.

Why Is the UK Gambling Commission Considering Crypto?

The crypto payments proposal is primarily a strategy to combat the illegal gambling market. The Commission has increased enforcement activity and secured additional Treasury funding to strengthen operations against unlicensed operators. Allowing regulated bookmakers to accept crypto could keep consumers on licensed platforms instead of pushing them toward offshore sites, Miller explained.

Miller cautioned that significant hurdles remain, describing the Commission's approach as "exploring the art of the possible" rather than dismissing innovation. He clarified that permitting crypto payments would not mean allowing offshore crypto casinos to operate in the U.K.

There will be significant challenges and risks to overcome.

— Tim Miller, Executive Director, UK Gambling Commission

FCA Crypto Regulations and the October 2027 Timeline

The Commission's initiative follows the U.K. government's decision to lay the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament in December. Once approved, cryptoassets would fall under the Financial Conduct Authority's remit, with a new regulatory regime set to take effect in October 2027.

Any betting operator accepting crypto would still need to satisfy strict suitability, compliance, and know-your-customer standards under existing gambling rules, alongside the forthcoming FCA requirements, Miller added.

What This Means for U.K. Crypto Bettors

Should the Commission's exploratory work lead to formal rule changes, British gamblers could gain the option to wager with digital assets at licensed operators. The shift would align U.K. gambling oversight with the country's broader crypto framework under the FCA. For now, however, the timeline remains uncertain as the Industry Forum's review is still in its early stages, according to Miller.